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International Business Times
International Business Times
Business
IBT Newsroom

Stocks Fall Sharply As AI Jitters, Rate-Cut Doubts Hit Wall Street

US Federal Reserve

A powerful early rally on Wall Street collapsed Thursday as renewed concerns about the durability of the artificial intelligence boom and fading expectations for a Federal Reserve rate cut sent major indexes sharply lower.

The Nasdaq composite fell about 2.2%. The S&P 500 slid 1.6%. The Dow Jones Industrial Average, up nearly 700 points at midday, reversed course and ended down almost 390 points.

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